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Actually, the Coasties *did* have the right of way.
Rules of the road:
-Divers have right of way in ALL cases.
-Power boats yield to sailboats.
-Smaller boats yield to large commercial vessels.
-If two power boats are crossing paths, you yield to the boat on your PORT side, if you are on their STARBOARD side. (The smaller boat was starboard of the Coast Guard).
They'll be lucky if the CG doesn't cite *them* for damages (and stupidity - neither of the small boat riders were watching their forward trajectory, much less looking all around).
Then again... if the Stand On vessel (the Coast Guard) sees an imminent collision for any reason, then they should have yielded to the Give Way vessel.
Bottom Line... they both wish it wasn't caught on tape...